Business groups put their muscle behind regulatory reform bill

Business groups put their muscle behind regulatory reform bill
© Greg Nash

Business groups are calling on the Senate to pass legislation curbing costly regulations.

The U.S. Chamber of Commerce on Monday sent a letter to members of the Senate Homeland Security and Government Affairs Committee voicing broad support for the Regulatory Accountability Act of 2015.

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The letter, signed by chambers of commerce in Alaska, Arizona, California and Florida, among others, said federal regulations should be supported by strong and credible data and evidence, should be narrowly tailored and should impose the least burden possible.

“Unfortunately, however, because America’s regulatory process was designed nearly 70 years ago, we are now confronted with a growing number of massive, costly, and complex rules that breed uncertainty and stifle hiring and investment,” they said. “These growing regulatory burdens and the uncertainty caused by badly-written regulations are a fundamental concern to us.”

The letter includes signatures from business and trade groups in all 50 states.

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The bill — which was introduced by Sen. Rob PortmanRobert (Rob) Jones PortmanTrump faces political risks in fight over GM plant GOP moves to rein in president's emergency powers The 25 Republicans who defied Trump on emergency declaration MORE (R-Ohio) and is co-sponsored by Sens. Susan CollinsSusan Margaret CollinsSenate GOP poised to go 'nuclear' on Trump picks Overnight Health Care: CDC pushes for expanding HIV testing, treatment | Dem group launches ads attacking Trump on Medicare, Medicaid cuts | Hospitals, insurers spar over surprise bills | O'Rourke under pressure from left on Medicare for all Dem group launches ads attacking Trump's 'hypocrisy on Medicare and Medicaid cuts' MORE (R-Maine), Angus KingAngus Stanley KingOvernight Defense: Senate rejects border emergency in rebuke to Trump | Acting Pentagon chief grilled on wall funding | Warren confronts chief over war fund budget Shanahan grilled on Pentagon's border wall funding Senators offer bipartisan bill to fix 'retail glitch' in GOP tax law MORE (I-Maine), Ron JohnsonRonald (Ron) Harold JohnsonScott Walker considering running for Wisconsin governor or Senate: report GOP moves to rein in president's emergency powers The Hill's 12:30 Report: O'Rourke jumps into 2020 fray MORE (R-Wis.), Kelly AyotteKelly Ann AyotteSchultz recruiting GOP insiders ahead of possible 2020 bid Bottom Line US, allies must stand in united opposition to Iran’s bad behavior MORE (R-N.H.), John CornynJohn CornynSenate GOP poised to go 'nuclear' on Trump picks GOP rep to introduce constitutional amendment to limit Supreme Court seats to 9 Court-packing becomes new litmus test on left MORE (R-Texas) and David Perdue (R-Ga.) — would force federal agencies to do a cost-benefit analysis and adopt the least costly or most cost-effective approach when a proposed rule carries an economic impact over $1 billion annually.

The legislation also calls for on-the-record administrative hearings on the most costly regulations and for rules to be more rigorously tested when challenged in court.

The groups said the bill would improve the accountability and the integrity of the regulatory process.

President Obama has already threatened to veto the legislation, which passed the House in January.